Tuesday Tax Tip – Are You Responsible for a Gift Tax? – 2/6/19

If you give a non-spouse a gift valued more than the annual exclusion amount, you could be  subject to a gift tax. For 2019, the annual federal gift tax exclusion amount for gifts to a non-spouse is $15,000 per person, per year. If you are married, you and your spouse may give up to $30,000, […]

Tuesday Tax Tip – Contribution Limits Increase – 1/22/19

Retirement Plan Contribution Limits have already increased for 2019.  Here is a simple overview: Source:  

Tuesday Tax Tip – Prohibited Transactions and IRAs – 1/15/19

A prohibited transaction is an impermissible transaction under the Internal Revenue Code that occurs between an IRA and a disqualified person. Disqualified persons include the IRA owner, the owner’s spouse, the owner’s lineal descendants (and their spouses), IRA beneficiaries and any IRA fiduciary. If you engage in a prohibited transaction, under IRS rules, your entire […]

Check Withholding Now To Avoid Tax Surprises Later

With the year more than halfway over, the Internal Revenue Service urges taxpayers who haven’t yet done a “Paycheck Checkup” to take a few minutes to see if they are having the right amount of tax withholding following major changes in the tax law. A summertime check on tax withholding is critical for millions of […]

How Businesses in California Can Acquire and Keep a Positive Cash Flow – July 17, 2018

As the saying goes, “cash is king!”  Cash flow is the lifeblood of any business organization. Small-business owners are often so concerned with other matters that they fail to pay proper attention to managing their cash resources properly. More businesses go out of business for this above all other reasons. The hard reality is this […]

How to Keep Records that Help You Control Your Business in California – June 26, 2018

Keeping accurate and clear business financial records can, for many business owners, be the most difficult, and frankly the most stressful, part of running a business. Simply understanding these records is often challenging. And yet maintaining a set of clear and understandable financial records is perhaps the single most important factor that separates successful businesses […]

Small Business Financing: How and Where to Get the Money You Need – June 6, 2018

Every day thousands of businesses are forced to close their doors. The most common reason given for the high failure rate of small businesses is a lack of adequate capital. Whether you’re starting a business or expanding one, sufficient ready capital is essential. But it is not enough to simply have sufficient financing; knowledge and […]

HSA Limit Adjustments – June 5, 2018

Following are the Health Savings Account (HSA) Limits for 2018 Maximum Contribution Individual Only: $3,450 Family Coverage: $6,900 HDHP Minimum Deductibles Individual Only: $1,350 Family Coverage: $2,700 HDHP Maximum Out-of-Pocket Amounts Individual Only: $6,650 Family Coverage: $13,300 Catch-up Contribution (age 55 or older) Individual Only: $1,000 Source: Rev. Proc. 2018-27 *This latest procedure update was […]

Three Ways to Grow Your Business in California – May 15, 2018

Regardless of what your product or service is, there are only three ways to grow your business, i.e., increase revenues and improve profitability. That’s it. All paths to growth are a variation on one of these themes. Once you have grasped this idea, your marketing will become more focused, more organized and more powerful. The […]

Secrets of Growing Your Business Sensibly and Profitably in California – April 24, 2018

It appears that many small businesses believe in the age-old adage that says, “Build a better mouse trap, and the world will beat a path to your door.” In the real world, this little piece of wisdom does not hold true. Unless you have invented a totally unique product or service uncommon in the marketplace, […]